CFTC Staff Letters

CFTC Staff Letters provides Letters from 2008 and later. For Letters published before 2008 visit the Letters Archive page.

PDF Description
PDF Image 08-04 Letter Type: Exemption
Division: DCIO
Regulation Parts: 4.7, 4.23
Tags: CPO, Exemption, Pool Participant, Reporting
Issuance Date:
Description:

The Division of Clearing and Intermediary Oversight granted exemptive relief from the books and records location requirement of Regulations 4.7 and 4.23. This exemption was conditioned upon: (1) the contractual obligation of the alternative recordkeepers to retain books and records of the CPO for the period required in Commission regulations and to make them available as required in Commission regulations; (2) availability within 48 hours (72 hours for offshore locations) of original books and records at the CPO’s main business office); (3) the CPO remaining responsible for ensuring compliance with Regulations 1.31, 4.7 and 4.23, and for availability of books and records to CFTC and NFA; (4) disclosure of the location of required books and records on the CPO’s pool Disclosure Documents; and (5) notification to the Division if the location of required books and records changes.


PDF Image 08-02 Letter Type: Exemption
Division: DCIO
Regulation Parts: 4.21, 4.22, 4.23
Tags: Disclosure, Pool Participant, Reporting
Issuance Date:
Description:

The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of three commodity pools, whose shares had been publicly offered and listed for trading on a national securities exchange. Prior to issuance of the Division’s letter, the pools had been operated in compliance with Part 4. As is discussed in the letter, relief granted by the Division was in the nature of substituted compliance with the regulations from which relief was sought. Exemptive relief was also provided with respect to future commodity pools with the same structural and operational features as the CPO’s existing pools.


PDF Image 08-01 Letter Type: Exemption
Division: DSIO, DCIO
Regulation Parts: 4.21, 4.22, 4.23
Tags: Disclosure, Pool Participant, Reporting
Issuance Date:
Description:

The Division of Clearing and Intermediary Oversight granted exemptive relief from certain of the Part 4 regulations to the registered CPO of a commodity pool, whose shares the CPO intended to publicly offer and to list for trading on a national securities exchange. As is discussed in the letter, this relief was in the nature of substituted compliance with those regulations.